Netflix Inc. will raise the price of its streaming service for new members by a dollar or two a month, it said on Monday. It also said that it now has more than 34 million paid subscribers in the U.S.

Netflix said the price increase for the $7.99 a month service, the first since 2011, would help pay for its continued investment in original programs, including series such as "House of Cards" and "Orange Is the New...